Decentralized Bitcoin trading, what not to ignore? If you want to trade Bitcoin, scalping, day trading or you are already doing it, here is some important information.
Decentralized Bitcoin trading, what is it and is it possible?
Just get the answer to this question below or go directly to
Bitcoin technical analysis to make informed decentralized Bitcoin trading
In the news of decentralized finance, we talk a lot about NFT, Metaverse and other projects, but some people ask the question, is it possible to do decentralized trading and especially on Bitcoin?
While crypto-currencies can be used to purchase everyday items in some stores, they are more commonly traded as digital assets for investment profit.
Impressive profits can be made by buying and selling on crypto-currency exchanges. But prices can be very volatile, so you could lose a lot too.
Bitcoin trading:
Bitcoin trading is how you can speculate on the price movements of the crypto-currency without necessarily buying Bitcoin. This is because traditionally, you would have to buy Bitcoin via an exchange, hoping that its price would rise over time. But now, those days are over, currently, crypto-currency traders are increasingly using derivatives to speculate on the rise and fall of prices – in order to make the most of Bitcoin’s volatility and without having to actually buy Bitcoin.
This allows one to trade Bitcoin in one’s own way, scalping, day trading, swing trading as one would with an index or gold.
Some people have already made their experience with a broker, they had to send money, after opening an account, and proceed to a lot of so-called security measures before they could actually trade. Then, once they made money, they were confronted with the broker’s system of claw backs.
In order to avoid all these procedures, and above all, in order not to need to trust a broker, by sending him his money, more and more traders are turning to decentralized trading.
At present, we can say that a good decentralized trading platform offers scalping, day trading and swing trading, as is the case with gains.trade.
Decentralized Bitcoin trading, the advantages:
The advantages of decentralized trading are obvious:
- no registration, no need to create an account
- high leverage if desired
- no sending money to a broker
- direct trading from your Metamask account, for example
- no need to apply to get your money back
You should know that on some platforms, you can do virtual trading, to familiarize yourself with the platform. Before you start trading for real, this option allows you to get used to the platform, which is recommended.
Another important point, you can also, on some decentralized trading platforms benefit from chat that allows you to communicate with other traders.
Therefore, yes, it is possible to trade Bitcoin on a decentralized trading platform and take advantage of the benefits offered by the blockchain and decentralization.
Now, you know, that when looking to trade Bitcoin, there is an alternative to using centralized exchanges to profit from the rise and fall of its price. You can trade on Bitcoin’s price movements via decentralized and leveraged trading.
For your information, it is possible to trade dozens of different cryptocurrencies as well as Forex.
Interested? Start trading immediately with a few dollars or Euro, test for yourself, start now
Bitcoin trading, technical analysis (weekly)
Crypto trading, decentralized trading with bitcoin, should we refrain from taking a position or on the contrary, is it the right time to take a position?
The first area to watch on the upside is the $24,500 area as support. If we can make this a solid support, then we can hope to reach the $25,500 to $26,000 area and then move to $27,000 and $29,000 to $30,000.
Beware, as already indicated above, the banking news as well as the announcements of bankruptcies and regulations will create at least until this summer strong turbulences in the prices. This is why it is good to take a step back, which is why this chart is in weekly.
On the downside, we have an important area, the $23,500 area, which absolutely must hold, because otherwise, the next important support is in the $22,400 and $21,200 area.
At the time of writing this article, we are on the $25,700 area, and we are trying to go beyond it, therefore, being on a pivot point, we will have to watch carefully what the price will do at this crucial support.
Taking a position now is a choice, if you are investing for the long term, this can be a good price, if on the other hand you are trading with leverage, then be careful, as the risk of the price going down all of a sudden and going back up just as quickly is still high.
Here are the prices to watch out for:
Supports are:
The area of $24,500 and $23,500.
The daily moving averages are bearish, it is imperative that the 50 average in red falls below the 20 moving average in green in order to become bullish again in the medium term.
Next objective:
Get past $26,000 with volume and let this price become a solid support to reach the next resistances at $27,000 and $28,800.
Want to trade this market, without a broker, in a 100% decentralized way? Try it now.
Decentralized trading – no registration
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Warning:
This is not a trading tip, it is just a perspective that may be of interest to you to help you assess the current market situation for yourself.
